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All Journal Sosiohumaniora Journal of Business and Management EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Jurnal Mirai Management Widya Cipta : Jurnal Sekretari dan Manajemen Journal of Innovation, Business and Entrepreneurship Jurnal Social Library Journal of Social Science IIJSE Journal Integration of Management Studies
Asep Darmansyah
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Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Improving Infinity Haircut Financial Performance using Financial Statements Projection Harisman, Taufik; Darmansyah, Asep
Journal of Innovation, Business and Entrepreneurship Vol 2, No 1 (2017)
Publisher : Journal of Innovation, Business and Entrepreneurship

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Abstract. Financial performance of a company indicates the health condition of its organization, it is possible to be able to know current financial performance of a company by analyzing using various kinds of calculation. The main objective in this research is to project financial statement of a company based on its financial performance which would be assessed using financial ratio and common-sized analysis. By using time-series analysis to compare historical data of Infinity Haircut financial statement, it enables researcher to fine the root problem and propose improvements for Infinity Haircut. From the analysis, it was discovered that the profitability ratios in Infinity Haircut indicates a low financial performance. The cause of this problem is low value of profitability ratios that were caused by the low amount of total sales. The result of this analysis creates a projection which can be used as a target for Infinity Haircut in the future to have better financial performance.Keywords: Financial Performance, Financial Ratio, Financial Statement Projection.
Analysis of Financial Statement and Sustainability of CDMA Service Provider Company (A Case of PT Smartfren Tbk and PT Bakrie Telecom Tbk) Ayu, Athira Azalika; Darmansyah, Asep
Journal of Business and Management Vol 4, No 10 (2015)
Publisher : Journal of Business and Management

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Abstract. Telecommunications is very vital to help people socialize and live. Various means are provided to facilitate the course of the telecommunications activities. One of them is the establishment of telecommunication service provider company. In Indonesia itself, there are to types of telecommunication service provider, which are GSM and CDMA. In the past year, CDMA service provider companies suffer bankruptcy one by one leaves only two companies remaining named PT Telecommunication X and PT Telecommunication Y. The purpose of this research is to determine the financial performance of the companies during the period 2011 through 2014 at the CDMA service provider companies and to determine the sustainability prediction in the future at the CDMA service provider companies. If those companies are aware of its financial condition and able to improve its performance, the company would likely to survive in telecommunication industry. The financial performance of both companies were analyzed and compared using financial ratio calculation and trend financial statement. For the sustainability analysis, Altman Z-Score is the method used in this research to predict a future bankruptcy indicator. The result of analysis shows that PT Telecommunication X and PT Telecommunication Y are not performing a good financial performance and are in the state of bankruptcy based on Altman Z-Score analysis. Keywords: Telecommunication industry; financial ratios; Altman Z-Score; sustainability analysis; trend analysis, financial performance.
Empirical Relationship Between Macroeconomic Volatility and Islamic Stock Returns (Case Study on Jakarta Islamic Index within Period of 2009-2014) Putra, Gilang Perdana; Darmansyah, Asep
Journal of Business and Management Vol 4, No 7 (2015)
Publisher : Journal of Business and Management

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Abstract- Capital market as one of the promising economic instruments is the investment object that quite interesting, but still not much glimpsed by Indonesian people. Recorded only about 4% of people who know about the capital market, and based on an index of literacy in services and financial sector, the utilization rate of capital market products and services only reached 0.11%. Meanwhile, the market share of Islamic stocks has mastered 50% of the shares in the Indonesian Stock Exchange. Thus the Jakarta Islamic Index (JII) as one of sharia stock index may be a reference to an attractive investment for the Muslim majority of Indonesian people (87.18%). On the other hand, gold that has a long history and relations with the Islamic economic world is still a favorite commodity to invest. World Gold Council noted that Indonesia becomes the highest gold consumer in Southeast Asia. However, despite being one of the safest investment due to its value tends to rise, but the gold return tends to be lower than stock returns. Meanwhile the year 2009 was a year with a positive vision for the Indonesian economy after the global crisis of 2008. Various economic indicators experienced a positive trend, as inflation reached 2.78%, the lowest in the history of the Indonesian economy. As well as the performance of the Indonesian capital market, IHSG in 2009 increased by 87% from the previous year, the highest in ASEAN. By contrast, the exchange rate of has weakened against US dollar over the years, with the exception of 2010 which is capable strengthened to Rp8.900, - per US dollar. Also the nominal GDP has increased from year to year. This research aimed to determine the effect of macro-economic factors that have been mentioned, that are inflation, exchange rate and GDP, as well as the price of gold toward stock returns in companies listed in JII from 2009 to 2014. The data used in this research is the annual secondary data of each variable. By using panel data regression method, this research found that inflation, exchange rates and the gold price has a significant effect on stock returns in JII, while GDP has no significant effect. But simultaneously, all four of these variables have a significant effect and are able to explain as much as 62% of the information on the stock return of companies listed in JII, the rest of 38% is explained by other variables outside the four independent variables in this research. This research is also expected can give consideration to investors who want to invest in the capital market, especially Islamic stock in JII. Keywords: capital market, stock returns, inflation, exchange rates, gross domestic product, the price of gold, panel data regression, Jakarta Islamic Index
Feasibility Study Hakmaz Taba Syariah Hotel Cooperate with PT Grahawita Santika Maruszama, Mahfidarwan Akbar; Darmansyah, Asep
Journal of Business and Management Vol 5, No 4 (2016)
Publisher : Journal of Business and Management

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Abstract.Hakmaz Taba Syariah Hotel is one of the hotels in Lubuklinggau who participate actively welcome the tourists who come to Lubuklinggau.Hakmaz Taba Syariah Hotel located at Jl. Yos Sudarso No 28 Lubuklinggau, South Sumatera, Indonesia. The hotel established since 1997. Hakmaz Taba Syariah Hotel is a hotel with the nuances of Islamic, elegant minimalist decor blends with local culture. The hotel has 48 rooms with facilities such as restaurant, cafe, swimming pool, children play ground, outdoor garden party, ballroom, ATM Center, and meeting room. There are a couple of things and the perceived problems that need to be repaired. Some of the problems being experienced are owner does not have experience in the hospitality sector, cause the hotel is not well controlled, the financial statements hotel is not recorded properly while already using the system / software, the marketing activity is not running, and the human resources are difficult to find in South Sumatra.Lubuklinggau have an interesting developments, competitors can lead to decreased number of occupancy of Hakmaz Taba Syariah Hotel. Because of it, the owners had approached and meetings with some of the operators of the hotel management, which are Starwoods Hotels, Swiss-Belhotel, Accor, Tauzia, Santika, and Dafam. The results of the meeting with the hotel management operator and conclusions given by the hotel owners indicate a match with PT Grahawita Santika (GWS). All problem identification in this paper will be solved using economical feasibility study.A business feasibility study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes, and assesing the range of costs and benefits associated with several alternatives for solving a problem. This study is used to support the decision-making process based on a cost benefit analysis of the actual business or project viability.It should help the company to find out does this invesment is the correct decision to do. The author will take the approach of the financial feasibility of using several methods such as NPV and IRR calculation, assisted by a brief explanation of market feasibility and legal feasibility The theoritical framework of this final assignment is based on various source which are text books, internet data and secondary data that collected from the company. Those source are used to find some supportive theories, information, and data to accomplish this final project.Formula that could be supportive for this final project are Net Present Value (NPV), Internal Rate of Return (IRR), Weighted Average Cost of Capital (WACC), and other formulas that related to financial feasibility.After analyzing the initial investment, income statement, statement of cash flow of the project, Author finally meet the conclusion that the project is not feasible to do. The project stated not feasible because the Net Present Value of the project is negative, Payback Period occur in the 9th year, and the Internal Rate of Return are lower than the discount rate which is Weighted Average Cost of Capital. If the owners still have the desire to run the project, there are some things that need to be calculated.Keywords : Financial, Hotel, Investment, Tourism, Lubuklinggau, Indonesia, Feasibility
Financial Performance Analysis of MSMEs Using KUR (People Business Credit) Funds Before and During the Covid-19 Pandemic Sigalingging, Mega Setia Mawarni; Darmansyah, Asep
Journal of Business and Management Vol 9, No 2 (2020)
Publisher : Journal of Business and Management

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Abstract. Pandemic Covid-19 is predicted by the IMF to bring world finances worse than the 2007-2008 crisis to -3% in 2020. KUR (People's Business Credit) is a government program in supporting MSMEs as a contributor to GDP in Indonesia, especially in the capital. However, this pandemic significantly affects the sustainability of MSMEs, especially in the Doloksanggul sub-district. This study will conduct a financial ratio analysis between before and during a pandemic to see the weaknesses of MSMEs, which can help restore Indonesia's finances. The analysis carried out with three ratios: solvency, activity, and profitability, to three business sectors: trade, production, and services. Based on the results of the analysis, for MSMEs engaged in trade, especially those who sell gas, the solvency ratio decreases while the ratio of activity and profitability increases. For production businesses, those producing snacks and services, namely tailors, experience the opposite of business in trade. In solvency has increased, and the ratio of activity and profitability has decreased. It can conclude that the trade sector experienced excellent financial performance while other businesses did not.Keywords: MSMEs, KUR (People Business Credit), Financial Ratio Analysis.
STRATEGI KERJA SAMA ANTAR PUSAT DAN DAERAH DALAM PEMBERDAYAAN MASYARAKAT KAWASAN TIMUR INDONESIA (KTI) Asep Darmansyah; Wawan Gunawan; Hamidah Hamidah
Sosiohumaniora Vol 6, No 1 (2004): SOSIOHUMANIORA, MARET 2004
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/sosiohumaniora.v6i1.5321

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Penelitian dilakukan di lima propinsi KTI yaitu Kalimantan Barat, Kalimantan Selatan, Sulawesi Utara, Nusa Tenggara Barat, dan Papua. Tujuan penelitian adalah untuk mensinerjikan kebijakan, strategi, program dan kegiatan departemen/lembaga antar pusat dan daerah, serta mengoptimalkan sarana dan prasarana yang ada agar tercapai efisiensi dan efektivitas dalam rangka pemberdayaan masyarakat. Metode penelitian berbentuk survai, dengan jenis penelitian deskriptif dan verifikatif. Data terdiri dari data primer dan data sekunder. Sumber data primer adalah responden yang ditentukan secara purposive sampling. Pengumpulan data primer dilakukan melalui wawancara mendalam menggunakan kuisioner. Setiap propinsi diambil responden sebanyak 12 orang dari kalangan individu masyarakat dan 18 orang pimpinan/staf kelembagaan formal dan non formal. Data sekunder diperoleh dari laporan, hasil penelitian dan pustaka lain yang berkaitan dengan program pemberdayaan masyarakat. Analisis data yang dilakukan terdiri dari : (a) Analisis peran, (b) Analisis prosedur manajemen, (c) Analisis sistem, dan (d) Analisis SWOT. Hasil penelitian menunjukkan bahwa dalam rangka pemberdayaan masyarakat KTI, perlu strategi optimalisasi kerja sama pusat dan daerah melalui strategi pengembangan kelembagaan pemberdayaan masyarakat di daerah, strategi tahapan pemberdayaan masyarakat yang benar dan utuh, strategi perencanaan partisipatif program pemberdayaan masyarakat, strategi organisasi dan koordinasi program pemberdayaan masyarakat, strategi pengendalian program secara transparan dan menyeluruh, strategi monitoring dan evaluasi partisipatif. Kata kunci : Kerja sama, pusat dan daerah, pemberdayaan masyarakat, kawasan timur Indonesia
STRATEGI PEMBANGUNAN DAERAH YANG BERWAWASAN AGRIBISNIS DI KABUPATEN CIREBON Asep Darmansyah; Siti Herni Rochana; Hamidah -
Sosiohumaniora Vol 13, No 1 (2011): SOSIOHUMANIORA, MARET 2011
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (303.012 KB) | DOI: 10.24198/sosiohumaniora.v13i1.5459

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Penelitian bertujuan untuk menyusun strategi pembangunan daerah yang berwawasan agribisnis. Teknik penelitian menggunakan metode studi kasus di Kabupaten Cirebon. Data yang dikumpulkan adalah data primer dan data sekunder. Data yang diperoleh dianalisis dengan analisis SWOT. Kesimpulan penelitian yaitu strategi pembangunan daerah Kabupaten Cirebon seyogyanya melakukan strategi agresif, dengan strategi umum meliputi pertumbuhan terkonsentrasi, integrasi horizontal, dan pengembangan pasar dan produk. Sementara strategi operasional pembangunan daerah Kabupaten Cirebon yang berwawasan agribisnis adalah meningkatkan efisiensi pengelolaan usahatani dan agroindustri, meningkatkan keterlibatan masyarakat dalam pembangunan daerah, meningkatkan produksi dan mutu produk berdasarkan produk unggulan daerah/wilayah sekaligus memperluas pasar melalui penataan wilayah dan pemanfaatan sarana informasi dan komunikasi, meningkatkan kerja sama program dan proyek lintas sektoral dan lintas wilayah. Rekomendasi hasil penelitian adalah perlu lebih ditingkatkan kuantitas dan kualitas sarana dan prasarana pelayanan pertanian di setiap wilayah kegiatan, serta perlu pemberdayaan ekonomi rakyat kecil melalui bantuan pembiayaan usaha mikro.
Review of Asset Management Practice in Indonesian State-Owned Enterprise Rahadi, Raden Aswin; Indrayana, Gun Gun; Afgani, Kurnia Fajar; Darmansyah, Asep; Anggoro, Yudo; Halim, Robbyson; Fitrianda, Saldy; Purbayati, Radia; Astari, Airen Widhia; Ayudiatri, Safira
Journal Integration of Management Studies Vol. 2 No. 1 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v2i1.138

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This study examines Indonesian State-Owned Enterprises (SOEs) asset management methods, problems, and financial and operational performance effects. The report synthesizes case studies and academic research on how large organizations manage their huge and diverse asset portfolios and how governance, regulatory frameworks, and human resource practices affect their effectiveness. The research begins with case studies of talent management innovations from big Indonesian SOEs. These cases show how proactive human resource approaches can boost company commitment and reduce turnover, improving asset management efficiency. According to the research, governance and legal frameworks influence asset management techniques. Studies show that corporate governance quality affects SOE operational performance. The paper explores how reforms and legislation affect state asset management, highlighting the major changes in SOE governance and legal frameworks, particularly after economic and political reforms. Asset management difficulties for Indonesian SOEs include managing large and diverse asset portfolios, integrating modern management frameworks, and optimizing state asset revenue. According to the study, comprehensive asset management systems, governance transparency, and professional management can address these difficulties. The research examines how asset management strategies affect Indonesian SOE profitability, corporate governance, and performance measures. Strategic asset management boosts financial performance, especially profitability. SOE profitability is greatly affected by current asset and liability management. The study offers advice to Indonesian SOEs and policymakers. Enhancing financial and operational performance requires comprehensive asset management, governance changes, and strategic innovation. These efforts boost Indonesia's economy, demonstrating the importance of asset management in SOE performance.
Pengaruh Harga Minyak Dan Gas Alam Dunia Terhadap Harga Saham Perusahaan Minyak Dan Gas Di Bei Sebelum Dan Sesudah Invasi Rusia Ke Ukraina Fernady, Dhegatala; Darmansyah, Asep
Jurnal Mirai Management Vol 9, No 1 (2024)
Publisher : STIE AMKOP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/mirai.v9i1.7105

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Invasi Rusia ke Ukraina pada awal tahun 2022 memberikan dampak yang besar terhadap perubahan harga minyak dunia dan gas bumi, karena Rusia merupakan salah satu negara produsen minyak dunia terbesar di dunia. Perubahan harga minyak dunia dan gas bumi juga mempengaruhi harga saham perusahaan minyak dan gas di Indonesia. Penelitian ini bertujuan untuk mengetahui apakah terdapat perubahan signifikan terhadap harga Minyak dunia, gas alam dan harga saham perusahaan minyak dan gas yang terdaftar pada periode yang ditentukan. Penelitian ini juga menganalisa apakah terdapat pengaruh signifikan dari perubahan harga minyak dunia dan gas bumi terhadap harga saham perusahaan minyak dan gas bumi di Indonesia yang terdaftar di IDX pada periode sebelum dan sesudah invasi Rusia ke Ukraina, yaitu pada tahun 2021 – 2023. Penelitian ini menggunakan metode kuantitatif serta melibatkan 7 sampel perusahaan minyak dan gas Indonesia dengan kapitalisasi pasar terbesar yang telah melaporkan data keuangan pada tahun 2021 – 2023. Analisis data yang digunakan adalah analisis regresi linear berganda serta Uji F dan Uji T. Hasil penelitian menunjukkan bahwa invasi Rusia ke Ukraina menyebabkan harga minyak dunia dan gas bumi mengalami perubahan yang signifikan pada tahun 2021 – 2023. Pergerakan Harga minyak dunia mempengaruhi harga saham pada perusahaan minyak dan gas bumi yang diteliti, namun pergerakan harga gas bumi tidak mempengaruhi harga saham pada perusahaan minyak dan gas bumi yang diteliti. Keywords: minyak dunia, gas alam, perusahaan migas Indonesia, harga saham
The Effect Of Market Value Ratio And Activity Ratio On Financial Distress In Technology Sector Companies Listed On The Idx 2021 - 2023 Cintya Nindy Nofita; Asep Darmansyah
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 12 No 2 (2024): April
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v12i2.5382

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Technological developments in Indonesia have encouraged the growth of the technology sector, however the tech winter phenomenon in 2022 caused a decline in investor interest, resulting in funding difficulties and potential financial distress for technology companies. This can be seen from the significant decline in the ROA profitability ratio. The decline in ROA indicates that technology companies are increasingly inefficient in managing assets to generate net profits. This condition has certainly received attention and the author wants to evaluate it in depth to prevent more severe negative impacts in the future. The aim of this research is to examine the influence of Earning Per Share (EPS), Price Book Value (PBV), Total Asset Turnover (TATO), and Fixed Asset Turnover (FATO) on predicting financial distress using the Altman Z-Score model in sector companies technology listed on the Indonesia Stock Exchange (IDX) for the period 2021Q1 to 2023Q2. This research uses 13 samples of technology sector companies listed on the IDX with a study period of 3 years. The company's financial data was analyzed using panel data regression analysis techniques to determine the influence of the independent variables on the dependent variable. The results of this study show that TATO is partially significant and has a positive effect on financial distress. EPS, PBV, FATO are partially not significant effect on financial distress. For EPS, PBV, TATO, FATO simultaneously have a significant effect on financial distress in technology sector companies. The findings of this research are expected to provide valuable insights for investors, creditors and other stakeholders in assessing the financial risks of technology companies and help them reduce the risk of losses
Co-Authors Afgani, Kurnia Fajar Ali, Kresnanda Anggoro, Yudo Astari, Airen Widhia Athira Azalika Ayu, Athira Azalika Ayudiatri, Safira Cintya Nindy Nofita Dc, Achmad Furqaan Fernady, Dhegatala Fitrianda, Saldy Gilang Perdana Putra, Gilang Perdana Halim, Robbyson Hamidah - Hamidah Hamidah Harijanto, Steven Mikael Harisman, Taufik Indrayana, Gun Gun Maruszama, Mahfidarwan Akbar Nugroho, Yezsa Bella Purbayati, Radia Raden Aswin Rahadi Sigalingging, Mega Setia Mawarni Siti Herni Rochana Tuntun Salamatun Zen, Tuntun Salamatun Wawan Gunawan Wawan Gunawan